UPDATE: Aegis Capital Double Upgrades Twitter, Inc. (TWTR) to Buy
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(Updated - January 16, 2018 8:56 AM EST)
Aegis Capital upgraded Twitter, Inc. (NYSE: TWTR) from Sell to Buy with a price target of $30.00 (from $13.00).
Analyst Victor Anthony is expecting the equity to rise another 17% in 2018 and comments that his upgrade is focused on the following seven points:
- 2018 will be an inflection point in O&O advertising growth and 2019 should return to double-digit growth;
- stable, improving MAU growth and sustained double-digit growth in DAUs;
- year-over-year margin expansion;
- GAAP profitability and the potential for S&P 500 inclusion;
- an improvement in employee morale;
- potential for acquisition now that the business model has improved; and
- Facebook’s (FB-$179.37:Buy) decision to emphasize user generated content in the News Feed over public content from businesses, brands, and media could make Twitter a more valuable media resource for video and news content, further increasing its acquisition appeal.
Shares of Twitter, Inc. closed at $25.41 Friday.
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